Estate planning
A Letter of Wishes complements your Will and should be seen as a guide rather than a set of binding instructions. This document provides additional information on personal matters to be considered after your death, such as your preferences for
Building wealth is a gradual process that requires time, strategic use of compound interest, and consistency. Effective investment planning, a highly technical and regulated area of financial planning, involves several interrelated components such as estate structuring, tax planning, risk management,
As a married couple, you will want to ensure that you are both adequately provided for in the event of death or disability, so take time beforehand to put the appropriate level of cover in place. If you or your
Many women find themselves trapped in unhappy and/or abusive relationships because they do not have the financial means to escape. As such, it is absolutely essential that every woman in a long-term relationship or marriage becomes actively involved in the
With a properly structured business assurance agreement, the proceeds from such a policy are exempt from estate duty in your estate. Unlike other assets, business assurance policy proceeds are not considered part of the deceased estate's deemed property, offering a
Children under 18 cannot inherit lump sum payouts or other assets directly, as they lack the legal capacity to manage such assets. Therefore, if you intend to name a minor child as a beneficiary of a life insurance policy or
In the absence of an estate plan, problems could arise in the deceased’s estate if there are insufficient liquid assets to honour the deceased’s bequests. In order to pay the bequests, the executor may need to realise assets in the
While the proceeds of domestic life insurance policies are deemed property in a deceased estate, buy and sell cover is a notable exception. This insurance is taken out by business owners on each other’s lives so that, if one shareholder
Where bonded fixed property is bequeathed to your children, they may be required to register a bond over the property in their own name and, if they do not qualify for a bond, they may be forced to sell the
Depending on the nature of their retirement income, the death of the first spouse may impact their retirement income and it is important to understand what the surviving spouse would receive in terms of income going forward. It’s also important
